Commons Sense

House of Commons · Ministers' Questions

Economic Growth

Tuesday 3 September 2024 · 6 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 3 Not answered 0

Key points

  • Sustained economic growth is the Government's route to improving living standards.
  • The Government are committed to delivering longer-term certainty for local authorities.
  • The Government plan to roll out 350 banking hubs in communities that have lost bank branches.

Topics (select to filter)

Questions & Answers

Q1 Catherine Fookes Lab Monmouthshire
Economy
Context

The MP noted concerns about economic growth in Monmouthshire and across the UK, referencing previous government promises. She asked for progress updates.

Question

What progress she has made on increasing economic growth?

Answer from Rachel Reeves

Sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people. That is why we have already taken a number of actions to begin delivering on our growth mission—which includes a series of planning reforms to get Britain building; the establishment of a national wealth fund to bring in private sector investment; the announcement of a pensions review to unlock growth, boost investment and deliver better returns to pensioners; the launch of Skills England; and the announcement of the forthcoming White Paper on getting Britain working again.

Partly answered

How: We Are Committed To

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Q2 Damien Egan Lab Bristol North East
Local Government
Context

The MP highlighted the role of local councils in delivering services and questioned the lack of longer-term funding certainty for them.

Question

What progress has been made on giving local councils longer-term funding settlements?

Answer from Rachel Reeves

The Government are committed to delivering longer-term certainty for local authorities, as part of our wider commitment to a more empowered, accountable and sustainable local government system that will support strong public services in all our communities. The Government will set out further details on our plans for local government funding in the upcoming Budget and spending review on 30 October.

Partly answered

How: Under Review

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Q3 Catherine Fookes Lab Monmouthshire
Economy Transport Local Government
Context

The MP expressed concern about the closure of bank branches in Monmouthshire, affecting constituents' access to services and local economic growth.

Question

This year alone, two more high street bank branches have closed in Monmouthshire, bringing the total to eight in the past two years. My constituents now find themselves struggling to access basic banking services—particularly in Caldicot. I was recently handed a petition that had been signed by more than 3,500 constituents. What progress has she made in her work with colleagues in the Welsh Government to support high street banks and hubs in Monmouthshire and across Wales?

Answer from Rachel Reeves

In our party manifesto, we committed to rolling out 350 banking hubs in communities like those she speaks about, which have lost multiple banks in the past few years. The Economic Secretary to the Treasury will happily meet my hon. Friend to work on achieving one such banking hub in her constituency.

Answered
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Q4 Mims Davies Con East Grinstead and Uckfield
Economy Transport
Context

The MP raised concerns about the potential impact of Gatwick airport expansion on local communities.

Question

Will the Chancellor confirm that suitable growth will not come at the expense of communities such as mine without proper consultation and acknowledgement of its impacts?

Answer from Rachel Reeves

This Government were pleased to sign off the expansion of London City airport, because we recognise how important aviation is to our economy, getting growth and investment into the UK. Of course, it is right that we always take local views into account and make sure that any investment in, or expansion of, airports comes with the infrastructure that is needed for local communities.

Partly answered

How: It Is Right

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Q5 Rupert Lowe Restore Britain Great Yarmouth
Economy Democracy & Elections
Context

The MP expressed concern about the lack of government accountability to taxpayers and its impact on economic growth.

Question

As I see it, the taxpayer is now accountable to the state. The state is not accountable to the taxpayer, and I think that a lot of our lack of growth is rooted in the fact that many of our offices run by the state are not working, and are actually strangling our economy.

Answer from Rachel Reeves

That is the purpose of elections, and at the last election, this Government achieved a sizeable majority for our missions, including growing the economy, improving living standards and making working people better off. We have just got started, and that is what we are absolutely determined to do, in order to deliver on the mandate we got on 4 July.

How: The Purpose Of Elections

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Q6 Alan Mak Con Havant
Economy Taxation
Context

The MP questioned the government's economic strategy, referencing a decline in economic confidence.

Question

The Institute of Directors' latest economic confidence index shows that optimism about the economy fell back to minus 12 last month, following a three-year high of plus 7 in July. Can the Chancellor explain how Labour's tax rises on working people, businesses and pensioners will contribute to economic growth when the economy is already going backwards under this Labour Government?

Answer from Rachel Reeves

I thank the hon. Gentleman for that question, I think. On 14 October, we are hosting an international investment summit, welcoming to London some of the biggest investors in the world. In the two months that I have been in this role, I have met over 300 business leaders, talking to them about the huge opportunities to invest in our great country, including in life sciences, financial services, the creative industries and low-carbon technologies.

How: Under Review

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